According to GlobalData, the value of Mexico construction market is forecast to decline by 1.7% in real terms in 2024, having decreased by 1.1% in 2023. A key growth market will be the infrastructure market, with output dropping by 2.0% in real terms. GlobalData tracks and profiles all major construction projects from announcement to completion. For further insight on this market, buy the latest profiles here.
Here are the top five manufacturing plant construction projects that commenced in Mexico in Q2 2024, according to GlobalData’s construction projects database.
1. San Luis Potosi Electric Vehicle Manufacturing Facility
The project involves the construction of an electric vehicle (EV) manufacturing facilities on an 85,000m2 area with a projected capacity of 175,000 vehicles in San Luis Potosí.
Construction work started in Q2 2024 and is expected to be completed in Q4 2026.
The aim of the project is to increase production capacity to meet the growing demand for EVs and to help to reduce greenhouse gas emissions in the region. It will create 1,000 jobs.
2. Aztema Rubber & Tire Manufacturing Plant
The project involves the construction of a tire manufacturing plant with a production capacity of six million units per annum in Leon, Guanajuato.
Construction work commenced in Q2 2024 and is expected to finish in Q1 2025.
This plant would be the group’s first manufacturing plant in North America.
3. Coahuila Car Tire Manufacturing Plant
The project involves the construction of a car tire manufacturing plant on 61ha of land with a production capacity of five million tires per annum in Saltillo Alianza Industrial Park, Saltillo, Coahuila.
Construction work started in Q2 2024 and is forecast to complete in Q1 2027.
4. Monterrey Manufacturing Plant
The project involves the construction of a manufacturing plant on a 65,000m2 area in Monterrey, Nuevo Leon.
Construction work commenced in Q2 2024 and is expected to be completed in Q4 2026.
5. Electric Motor and Vehicle Engines Manufacturing Plant
The project involves the construction of a manufacturing plant in Escobedo, Nuevo Leon.
Construction work started in Q2 2024 and is expected to be completed in Q4 2026.
For more details on the latest construction projects, buy the profiles here.
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